Climate change investor Bay Bridge Ventures has raised $200 million in new funding, TechCrunch has learned exclusively.
Baybridge filed documents Monday with the U.S. Securities and Exchange Commission regarding its new climate change fund. The increase comes as venture investors have become increasingly bullish on climate-changing technologies.
While the overall venture market has been in a downturn in recent years, many companies have raised eye-popping amounts of money to support climate change technology founders. SOSV on Tuesday announced a $306 million deep tech fund with a 70% focus on climate change. New Summit Investments is raising his $100 million impact fund. And Congruent Ventures turned down an additional $325 million in LP interest, with him raising $275 million in 2023.
However, the difference is that these companies are all relatively established companies. Bay Bridge Ventures is a new company founded in 2022 to focus on his broader ESG, specifically sustainability. The firm participated in his $10 million round of SailPlan in 2022, according to PitchBook, but has no other investments or funds on record, according to SEC filings and a search of his PitchBook data. Apparently not.
That doesn't mean Bay Bridge lacks experience, though. His general partner, Andrew Kirsch, left the pension fund Calpers to co-found the firm. His co-founders Joe Blair and Kim Colt are also no strangers to the industry. Mr. Blair previously worked at Cota Capital and Obvious Ventures, where he currently hosts the Epic Human Podcast. Colt founded For Good Ventures and previously worked at Goldman Sachs and Deutsche Bank.
The company did not respond to requests for comment before publication.
The team's previous investments span a variety of industries, including sustainable shoe company Allbirds, power grid software startup Arcadia, vehicle EV charging company Amply, and space launch startup Astra.